|
Printable version |
From: | "Shares" <shares@whoami.com> |
Date: | Sat, 22 Jun 2002 13:46:54 +1200 |
I forgot to add that the Govt has been making
noises about working with the Aust govt to make imputation credits transferable
across the Tasman, but I wouldn't hold my breath. The $ value at the
moment is likely to be heavily in favour of the Aust Tax Office, and I doubt
they will give the money away easily!
EK
----- Original Message -----
From: Shares
Sent: Saturday, June 22, 2002 1:41 PM
Subject: Re: [sharechat] Australian Tax Inquiry & NZ Tax
Return Yes, Second is about right. Fully franked has
the same meaning as our term fully imputed. You receive the benefit of tax
the company has paid so as not to double tax the profits when they are paid as
dividends. The problem is that the imputation credits are not transferable
from Aus to NZ and vice-versa. As an NZ resident, you will be taxed twice
effectively, - once through Aus company tax (represented as the imputation
credit) and once on the dividend you receive, by the NZ IRD. You can claim
a tax credit in NZ for non-resident withholding tax (NRWT) paid in Aus, but
not imputation credits. This is one of the benefits with WPT shares in
NZ. The dividend is the same as the Aus WBC shares and the NZ shares carry
a full (NZ) imputation credit, but if you had WBC rather than
WPT shares you would be taxed twice as is occurring with your CBA
shares.
Sorry to be so long winded. I hope this is
clear.
EK
|
|